EURUSD dropping perfectly as expected
Buy above 1.1781. Stop loss at 1.1709. Take profit at 1.1878.
Reason for the trading strategy (technically):
Price has continued its drop perfectly towards our profit target. We now turn bullish due to the changing elements we are seeing. We look to buy above major support at 1.1781 (Fibonacci retracement, horizontal pullback support) for a push up to at least 1.1878 resistance (Multiple Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).
Stochastic (89,5,3) is seeing major support above 1.1% where we are expecting a bounce from.
RSI (34) sees ascending support holding it up really well too.
Reason for the trading strategy (technically):
Price has continued its drop perfectly towards our profit target. We now turn bullish due to the changing elements we are seeing. We look to buy above major support at 1.1781 (Fibonacci retracement, horizontal pullback support) for a push up to at least 1.1878 resistance (Multiple Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).
Stochastic (89,5,3) is seeing major support above 1.1% where we are expecting a bounce from.
RSI (34) sees ascending support holding it up really well too.
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